The term “Inherited IRA” in the internal revenue code describes any IRA after the death of its owner. The beneficiary of the IRA is said to have inherited his or her ownership of the IRA. Inherited IRAs have special tax rules regarding Inherited IRAs. There different rules for surviving spouses from beneficiaries who are not the spouse of the decedent (children, grandchildren, etc.). If you have inherited an IRA an would like to know what your options are in terms of tax planning, click here to contact Paul to discuss your options.